The following data relate to product no. 89 of Des Moines Corporation: at9 Direct material standard: 5 square feet at $3.30 per square foot Direct material purchased: 37,000 square feet at $3.60 per square foot Direct material consumed: 36,400 square feet Manufacturing activity: 7,200 units completed Assume that the company computes variances at the earliest point in time. AJThe direct-material quantity variance is: B)The direct-material price variance is:

The following data relate to product no. 89 of Des Moines Corporation: at9 Direct material standard: 5 square feet at $3.30 per square foot Direct material purchased: 37,000 square feet at $3.60 per square foot Direct material consumed: 36,400 square feet Manufacturing activity: 7,200 units completed Assume that the company computes variances at the earliest point in time. AJThe direct-material quantity variance is: B)The direct-material price variance is:

Name: The following data relate to product no. 89 of Des Moines Corporation
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Description: The following data relate to product no. 89 of Des Moines Corporation:Direct material standard: 5 square feet at $3.30 per square footDirect material purchased: 37,000 square feet at $3.60 per square footDirect material consumed: 36,400 square feetM

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following data relate to the direct materials cost for the production of 1,800 automobile tires: Actual: 60,900 lb. at $1.70 Standard: 59,100 lb. at $1.75 a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance $fill in the blank 1 Quantity variance $fill in the blank 3 Total direct materials cost variance $fill in the blank 5
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4.
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